India, Aug. 18 -- Shares of Baidu Inc. were losing around 6 percent in the pre-market activity on Nasdaq after the Chinese AI and internet company reported Tuesday sharply lower profit in its second quarter with weak revenues mainly in online marketing business, despite improved performance in Core AI-powered Business. Going ahead, the company aims to invest in AI as the core driver of its long-term growth.
Robin Li, Co-founder and CEO of Baidu, stated, "With AI-powered Business now firmly established as the core of Baidu, we are strengthening the foundations for our next phase of AI-driven growth..... While our online marketing business remains under pressure, the growing momentum in our core AI-powered Business reaffirms Baidu's transiti...